The price of crude oil fell into negative territory and in the process is testing the March and May lows near $76.80. (See red number circles on the chart above). A move below that level would open the door for further selling pressure as the bias turns more negative technically. Note that the high-price today stalled ahead of its 100-day moving average at $78.82, keeping the sellers more in control on the daily chart (see blue line on the chart above).Admittedly, there is good support nearly $76.80 level, but earlier this week, the 200-day moving average held resistance (green line). Today the 100-day moving average held resistance as well suggesting the sellers are more aggressive. Howeve
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